Research On The Influence Of Media Reports On H Enterprise Value

With the development of media,the relationship between media report and enterprise value has been paid more and more attention.Media reports,especially negative media reports,have been widely studied in academic circles.The research mainly focuses on two aspects.On the one hand,media reports can affect the market value and financial performance of companies.On the other hand,media reports can influence corporate governance by playing the role of external governance mechanisms.This paper focuses on the impact of media reports on the market value and profitability of enterprises.In recent years,the image of entrepreneur and the overall image of enterprise are more and more closely linked.In addition to paying attention to the operating conditions of enterprises,the media is more willing to focus on entrepreneurs who can attract public attention.As a well-known e-commerce company in China,H has been widely concerned by the media and the public.As the founder of H,A entrepreneur himself has received a lot of attention,not just from his entrepreneurial status,but also from his personal life.A was arrested in Minnesota on August 31,2018,on suspicion of ‘sexual conduct constituting a crime.' Although H issued a statement saying the arrest was a "false allegation",this incident has caused a wide range of media reports.What impact will these reports have on the enterprise value of H,and what reference significance will this incident have for other enterprises,media,regulatory authorities and a entrepreneur against the background of frequent negative news of entrepreneurs? These issues are worth further investigation.This paper consists of six parts.The first part briefly describes the research background and significance.On this basis,it summarizes previous studies on the impact of media reports on enterprise market value,enterprise performance and corporate governance,summarizes relevant studies on entrepreneur image,and also explains expected innovation points and writing difficulties.The second part of this paper introduces the related concepts of media report,entrepreneur image,corporate governance and enterprise value.The third part of this paper introduces the media reports on H and A entrepreneur.The fourth part analyzes the influence of media reports on the market value of the enterprise value by using the stock price and CAR value of the enterprise.In terms of market reaction,the related reports of the incident have indeed affected the market value of H in the short term.ROE is used to evaluate the profitability in the enterprise value.Due to the mature development and high popularity of H,it is found that the media coverage of A entrepreneur has no significant influence on the enterprise value of H in the long run.By using the free cash flow of the enterprise to represent the overall value of the enterprise,this paper analyzes the impact of media reports on FCFF,and concludes that the impact of the incident on H's quarterly FCFF is not very significant.Based on the conclusions obtained from the analysis of several indicators,this paper provides suggestions for related enterprises and entrepreneurs who are increasingly close to each other.In addition,in order to standardize the order of the securities market,this paper also introduces the areas where regulators and media need to improve in the future development.This is the main content of the fifth part.The last part is the research conclusion,shortcomings and prospects.